We worked out our monthly expenses....in the red. (401k, work, budget)

[Va-Cat]

As for where you are in finances and what you did to get there - it really doesn't make a bit of difference. As my grandfather used to say (a man that lived through the last great depression)- "it is what it is - now what are you going to do about it". I'd like to suggest the following:

• Get a plan - not a short term survival plan - you are doing that with the bankrupcy - sit down and get a strategy for the long term for financial security. Make sure it includes savings that will eventually equal at least 8 months of average expenses to cover emergencies.
• Clip all credit cards and credit offers into teeny tiny pieces. Don't even think about applying for anymore until you have a good handle on debt management. Living on a cash basis isn't a crime no matter what anyone thinks.
• Look to today and tomorrow. Do what is necessary to assure short term survival and long term security. What I mean by that is work at Burger King or cutting lawns if necessary and sell everything you can if needed to get you through. At the same time keep looking forward on the long term.

All I'm saying is that the debate and comments on here about "you should have done this" or "shouldn't have done that" is useless. Sit down and figure out what you need to do to get out of this nightmare and get a plan on how you can make sure it never happens to you again. Good luck

[oz in SC]

Originally Posted by Va-Cat

As for where you are in finances and what you did to get there - it really doesn't make a bit of difference. As my grandfather used to say (a man that lived through the last great depression)- "it is what it is - now what are you going to do about it". I'd like to suggest the following:

• Get a plan - not a short term survival plan - you are doing that with the bankrupcy - sit down and get a strategy for the long term for financial security. Make sure it includes savings that will eventually equal at least 8 months of average expenses to cover emergencies.
• Clip all credit cards and credit offers into teeny tiny pieces. Don't even think about applying for anymore until you have a good handle on debt management. Living on a cash basis isn't a crime no matter what anyone thinks.
• Look to today and tomorrow. Do what is necessary to assure short term survival and long term security. What I mean by that is work at Burger King or cutting lawns if necessary and sell everything you can if needed to get you through. At the same time keep looking forward on the long term.

All I'm saying is that the debate and comments on here about "you should have done this" or "shouldn't have done that" is useless. Sit down and figure out what you need to do to get out of this nightmare and get a plan on how you can make sure it never happens to you again. Good luck

Well....your grandfather was smart.

Coulda, woulda, shoulda doesn't really matter AFTER the fact.

We have a plan thanks....of course it will be helped out tremendously by us not having much money...

[sheenie2000]

Originally Posted by oz in SC

It was in this article about Ramsey...

The truth about Dave Ramsey - by JQ Adams - Helium

Could be false I guess...but to be honest I find the idea that a lot of people carry no C/C balance a bit far fetched.

Latest Gallup Poll Shows 43% of Americans Pays Credit in Full

"It’s not too bad really. A recent Gallup poll reveals that forty-three percent of American credit-card holders pay their balance in full each month, while another seventeen percent usually pay their balance in full."

[oz in SC]

Uh huh....I imagine no-one would fib a little on a poll like that.

[suzie02]

Originally Posted by hivoltage

Sounds like most of you folks bashing this guy on here are part of the Dave Ramsey cult.

The issue with the OP is not that he got in trouble it is that he thinks that he has no fault on his current situation. He was just a sheep following what every one else did and said to do. No personal responsibility at all. I have no idea who Dave Ramsey is. I have been a Clark Howard fan for years and I have recently began listening to Suze Orman.

Originally Posted by Va-Cat

All I'm saying is that the debate and comments on here about "you should have done this" or "shouldn't have done that" is useless. Sit down and figure out what you need to do to get out of this nightmare and get a plan on how you can make sure it never happens to you again. Good luck

You have to look at the history in order to not repeat the same situation. There are many people who took second mortgages to pay off their credit cards only to turn around and max them out all over again. The OP doesn't seem to see anything wrong with his past financial behavior.

Originally Posted by oz in SC

Uh huh....I imagine no-one would fib a little on a poll like that.

Why? What does one get out of it? It seems to me that there are plenty of people who are proud to have cc debt.

[Va-Cat]

Originally Posted by suzie02

You have to look at the history in order to not repeat the same situation. There are many people who took second mortgages to pay off their credit cards only to turn around and max them out all over again. The OP doesn't seem to see anything wrong with his past financial behavior.

I didn't get that at all. How could anyone facing bankrupcy not "get" it?" All I'm saying is that instead of analysizing what they did wrong and beating them up for it, its better to maybe say "ok - to make sure it never happens again you SHOULD do this or that" People respond much better to help than accusations.

[suzie02]

Originally Posted by Va-Cat

I didn't get that at all. How could anyone facing bankrupcy not "get" it?" All I'm saying is that instead of analysizing what they did wrong and beating them up for it, its better to maybe say "ok - to make sure it never happens again you SHOULD do this or that" People respond much better to help than accusations.

Some people don't get it. I was just watching Suze Orman yesterday and there was a guy who at 28 had already filed for bankruptcy twice and again had 200k debt.

To me based on the OP other posts, he doesn't get it.

[oz in SC]

Actually we DO see something wrong with our behavior...and your behavior...and our entire society's behavior.

We plan to no longer participate in the system that enslaves people financially and that has people worrying over a score that means nothing in reality.

Unless of course your idea of reality is being able to have a credit limit of $50,000....but never using it because you pay it off every month.

[Va-Cat]

Originally Posted by oz in SC

We plan to no longer participate in the system that enslaves people financially and that has people worrying over a score that means nothing in reality.

Yup - you get it!

[oz in SC]

You better watch out,thinking that a system based upon debt is not the best thing to EVER come along is heresy around here...